EUR/USD & GOLD forecast 22.11.2012

EUR continued bullish move as forecasted and this morning we have a new maximum @ 1.2867. Currently a pullback is in place and the price returned to 1.2840. The upside is very slow and difficult as the european financial ministers still have differences in taking a decision about the next bailout money transfer to Greece. Next meeting will be on Monday, so until then we will not be able to gain above 1.2885-1.2895 and the best thing to do is to use that for a sell point with target 1.2800 or 1.2760.

GOLD still is trading within a very tiny range, so if you make a profit just take it and run. A resistance is staying @ 1732 and another one @1740. We need a clear close above 1740 to restore the upside, for now GOLD is in a consolidation mode.